Media headlines about Integrated Device Technology (NASDAQ:IDTI) have trended somewhat positive on Wednesday, according to Accern Sentiment. Accern rates the sentiment of news coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Integrated Device Technology earned a news impact score of 0.21 on Accern’s scale. Accern also assigned media headlines about the semiconductor company an impact score of 45.1944927246448 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
These are some of the news stories that may have effected Accern Sentiment Analysis’s scoring:
- With Integrated Processing on the Rise, Gateways Have Become a ‘Hot M&A Target’ (digitaltransactions.net)
- Integrated Biometrics Sensor Integrated Into New Portable Identity Verification Device For Cops (findbiometrics.com)
- Integrated Device Technology Bullish But Wait to Buy Strength (finance.yahoo.com)
- IDT Completes 200G/400G Intra- and Inter- Datacenter Applications With Introduction of HXR14x00 and HXR44x00 TIAs – PR Newswire (press release) (prnewswire.com)
A number of research analysts have recently issued reports on the stock. Piper Jaffray Companies assumed coverage on shares of Integrated Device Technology in a report on Monday, February 26th. They set an “overweight” rating and a $33.00 price objective for the company. BidaskClub upgraded shares of Integrated Device Technology from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. ValuEngine upgraded shares of Integrated Device Technology from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research upgraded shares of Integrated Device Technology from a “sell” rating to a “hold” rating in a report on Friday, March 2nd. Finally, Craig Hallum reiterated a “buy” rating and set a $40.00 price objective (up from $36.00) on shares of Integrated Device Technology in a report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $33.36.
Integrated Device Technology (NASDAQ:IDTI) last released its quarterly earnings results on Monday, January 29th. The semiconductor company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. Integrated Device Technology had a negative net margin of 0.33% and a positive return on equity of 20.26%. The business had revenue of $217.10 million for the quarter, compared to analysts’ expectations of $215.32 million. During the same period in the previous year, the company earned $0.35 earnings per share. The firm’s revenue for the quarter was up 23.1% compared to the same quarter last year. analysts predict that Integrated Device Technology will post 1.15 EPS for the current year.
In related news, VP Mario Montana sold 22,000 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $32.06, for a total transaction of $705,320.00. Following the transaction, the vice president now directly owns 74,705 shares in the company, valued at $2,395,042.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory L. Waters sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $28.33, for a total transaction of $283,300.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 138,823 shares of company stock worth $4,353,162. 1.24% of the stock is owned by corporate insiders.
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About Integrated Device Technology
Integrated Device Technology, Inc develops system-level solutions that optimize its customers’ applications. The Company operates through two segments: the Communications, and the Computing, Consumer and Industrial. It offers products in radio frequency (RF), timing, wireless power transfer, serial switching, interfaces and sensing solutions.
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